Updated April 24, 2022
A boat deposit receipt is supplied to a buyer who has placed a down payment on a vessel in order to complete the purchase on a later date. Once a buyer has expressed interest to the seller in a boat for sale, the seller will agree to not sell the boat to another person if the buyer provides a deposit.
This deposit will go towards the total sale price of the vessel, but the buyer must come back in an agreed-upon number (#) of days otherwise the seller will keep the deposit. It’s important that the buyer asks for a boat deposit receipt, which will include buyer, seller, and boat information the deposit amount, and the total selling price.
Boat Bill of Sale – A binding agreement between a buyer and seller for the purchase of a boat.